Noida, Feb 27 (PTI) The aide of a Greater Noida-based businessman was arrested on Tuesday for alleged fraud and criminal breach of trust after he embezzled his employer's Rs 1.15 crore after claiming a loot with him, police said.

Rs 1.07 crore of the embezzled cash, which was hidden in pits under the ground at his maternal uncle's home in the adjoining Bulandshahr district, has been recovered, the police said, as it solved the case within four hours.

Also Read | Germany: Union Calls 3-day Lufthansa Ground Staff Strike.

The rest of the money is believed to be with the accused's uncle, who is absconding, the police said.

Gopal Goyal, a trader in the grains market, informed police about the Rs 1.15 crore 'loot' with his collection agent Ketan Singh late on Monday night near the ATS Roundabout in Greater Noida's Beta 2 police station area.

Also Read | Rajya Sabha Election Results 2024: BJP Wins Eight Seats, Samajwadi Party Bags Two in Uttar Pradesh; State BJP MLC Mohsin Raza Says, ‘Ye 8 Nahi, 80 Ki Tayyari Hai’.

"Cognisance of the report was taken immediately and senior officers visited the spot for inspection at night. When Ketan was questioned by the police to ascertain forward and backward linkages in the case, there appeared to be discrepancies in his statements," Deputy Commissioner of Police (Greater Noida) Saad Miya Khan said.

"We also went through some CCTV footages and call detail records, which further raised doubts about the reported incident. When Ketan was questioned once again, contradictions appeared in his statements, after which he revealed that he planned embezzlement of the money along with his uncle and concocted this fake loot story," Khan told reporters.

A local police team was immediately dispatched to the Samaita village in the Khurja area of Bulandshahr, where his uncle Guddu lives, the officer said.

"The cash was found hidden in two pits which were made in the ground to conceal it and all of that money was recovered from there. The case was cracked in just four hours, blowing lid off the fake loot claim," DCP Khan said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)